PTTEP group makes oil, gas find in Algeria

Jan. 22, 2008
A three-company consortium that includes Thailand's PTTEP has made an oil and gas find with an exploration well drilled on Algeria's onshore Block 433a and Block 416b.

By an OGJ correspondent
BANGKOK, Jan. 22 -- A three-company consortium that includes Thailand's PTT Exploration & Production PLC (PTTEP) has made an oil and gas discovery with an exploration well drilled on Algeria's onshore Block 433a and Block 416b.

The well, MOM-3, which was drilled to a TD of 3,872 m, encountered two zones of oil-bearing formation with a total thickness of 30 m.

Drillstem tests were conducted on two zones, indicating an average flow rate of 800 b/d of 48° gravity oil and 1 MMcfd of gas.

Blocks 433a and 416b, which cover a total area of 6,472 sq km, lie near Touggourt about 50 km from Hassi Messaoud, a large oil field that produces about 400,000 b/d.

PetroVietnam E&P Corp. owns a 40% share in the blocks, PTTEP 35%, and Sonatrach 25%.